Revision: Jan. 21, 2025, 3:40 p.m.
HB 694-FN - AS INTRODUCED
2025 SESSION
25-0403
07/08
HOUSE BILL 694-FN
AN ACT requiring leases of land, buildings, or space by state agencies to be at fair market value.
SPONSORS: Rep. J. Aron, Sull. 4; Rep. Cloutier, Sull. 6; Rep. Drye, Sull. 7; Rep. Girard, Sull. 6; Rep. S. Smith, Sull. 3; Rep. B. Sullivan, Sull. 1
COMMITTEE: Executive Departments and Administration
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ANALYSIS
This bill requires that property leased by state agencies be leased at a rate which would be considered a fair market rate, unless a sub-market rate is agreed to by the property owner.
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Explanation: Matter added to current law appears in bold italics.
Matter removed from current law appears [in brackets and struckthrough.]
Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.
25-0403
07/08
STATE OF NEW HAMPSHIRE
In the Year of Our Lord Two Thousand Twenty Five
AN ACT requiring leases of land, buildings, or space by state agencies to be at fair market value.
Be it Enacted by the Senate and House of Representatives in General Court convened:
1 New Section; Fair Market Value of State Agency Leases. Amend RSA 4 by inserting after section 39-f the following new section:
4:39-g Fair Market Value Of State Agency Leases.
I. Any renewal of a lease of land, buildings, or space to be used by any state agency, as defined in RSA 21-G:5, III, shall be renewed at a fair market rate, unless otherwise agreed upon by the lessor.
II. This section shall not apply to any state agency whose lease of land, buildings, or space was procured through the use of a competitive selection or bidding process.
2 Effective Date. This act shall take effect 60 days after its passage.
25-0403
1/7/25
HB 694-FN- FISCAL NOTE
AS INTRODUCED
AN ACT requiring leases of land, buildings, or space by state agencies to be at fair market value.
FISCAL IMPACT:
The Legislative Budget Assistant has determined that this legislation has a total fiscal impact of less than $10,000 in each of the fiscal years 2025 through 2028.
AGENCIES CONTACTED:
Department of Administrative Services